CNBC's Bertha Coombs and Jon Fortt, report Facebook has filed papers with the SEC for a Q2 IPO. Also, Defense Secretary, Leon Panetta announced today, the U.S. will shift it's strategy in Afghanistan; at lease 70 people were killed at a soccer match turned violent in Egypt; and American Airlines is looking to cut 13,000 jobs.
Bank layoffs won't be as deep as they were during the 2008 financial crisis, hedge-fund recruiter Ilana Weinstein told CNBC Friday. Those who remain, however, may see big cuts in bonuses—if they get one at all.